Shiba Inu (SHIB) is on the rise, and in recent times the cryptocurrency managed to get above the resistance at $0.000008. It continues to move higher while major other altcoins are tumbling in the crypto market.
SHIB has gathered colossal attention and has emerged as one of the favoured choices of investors.
The Dogecoin Killer hit its all-time high in May and has plummeted and remained on almost the same level since then. This altcoin did well in May; investors believe it would be the next Doge.
Bitcoin is currently trying to settle above $35,000; its resistance level has already been tested multiple times in recent trading sessions and proved its strength.
Dogecoin also failed to settle below the $0.25 level, which is another bullish development for Shiba Inu.
The earlier resistance at $0.000008 will serve as the first support level for Shiba Inu on the support side. If SHIB declines below the said level, it will head towards $0.000007 -the next support which eventually will push Shiba Inu towards the support at $0.0000063.
At 08:15 pm, Shiba Inu (SHIB) was trading at $0.000008321 USD with market cap of $3,320,765,155 and trading volume of $807,292,316 USD. SHIBA INU is up 8.72 per cent in the last 24 hours.